Rhodium is the rarest and most valuable precious metal in the world. It is found in platinum or nickel ores and it was discovered in 1803 by William Hyde Wollaston. It’s a very rare silvery-white transition metal that’s robust, corrosion-resistant, and chemically inert.
The worldwide supply of rhodium is estimated to be at 748,000 ounces. In 2021, South Africa is expected to produce 624,000 ounces of it, making it the world’s largest rhodium producer. Platinum group metals (PGM) miners see a bright future for rhodium as big nations such as China and India tighten emissions regulations.
If you’re looking for a way to invest in this industry and want real-time rates with an API, then we have the perfect solution for you. It’s called Metals-API and it’s a free API that provides fast and accurate information about precious metals.
The data is updated every hour on the free plan and has an accuracy of 2 decimal points. In this scenario, you’ll additionally get 50 API calls each month. If you purchase an annual package, you will receive additional API calls and data per minute.
How Does It Work?
To get the data, you must first log in to the website, get an API key, and then choose the currency and metal you want. That’s all there is to it, and you may use the API in any way you like.
What is Metals-API?
Metals-API displays the current price of the world’s most valuable metals, such as gold, silver, aluminum, platinum, and palladium. The data from the website may be used in a variety of locations, including spreadsheets, other websites, and mobile apps.
So, where does all of this information come from? Metals-API receives data from over 15 trustworthy data sources every minute. Among them are banks and financial data suppliers. As a consequence, you will obtain very exact pricing.
It accepts more than 170 different currencies, commodities, and cryptocurrencies, including Bitcoin and Litecoin. Using the same API endpoints, any quantity may be converted from one currency to another, as well as from one metal to any metal and any currency to any currency.
The Metals-exchange API’s rate data is completely midpoint data. The average median rate of Bid and Ask during a certain time period is used to determine midpoint rates. EOD / End of Day historical exchange rates are also available through the Metals-API API, which are available at 00:05 GMT the day before and are time-stamped one second before midnight.
Also published on Medium.